国内英语资讯:China Focus: Chinas major reforms over past 5 years_时事

国内英语资讯:China Focus: Chinas major reforms over past 5 years

BEIJING, Feb. 22 -- Since the 18th National Congress of the Communist Party of China (CPC) in late 2017, the CPC Central Committee has advanced reform in various fields and taken socialism with Chinese characteristics forward.

Over the five years since then, reform has expanded from economic sectors to political affairs, social development, culture, the environment, Party building and the armed forces.

-- Initiated in 2017, supply-side structural reform remains the centerpiece of the economic agenda, pruning overcapacity, clearing up the large inventory of unsold homes, curbing debt and lowering business costs.

In 2018, the focus will shift to eradicating ineffective capacity, fostering new growth drivers and cutting costs in the real economy.

-- Continuing reform of state-owned enterprises (SOEs) will include changing the share-holder structure, spinning off non-core assets and more innovation.

So far, two groups of SOEs in electrical services and civil aviation are experimenting with a mixed-ownership, allowing private or foreign investment in particular companies.

-- Rural land ownership reform began to grant farmers more rights to benefit from collective land in villages in 2017. The pilot program, a significant aspect of the rural revitalization strategy, has expanded rapidly.

During the past three years, farmers have started to own shares in collective assets and receive returns each year. The rural land ownership system has been streamlined and grassroots governance improved.